UOB analysts maintain a mild upside bias for EUR/USD, contingent on support at 1.1405 holding over the next 1-3 weeks.
EUR/USD is consolidating within a 1.1405–1.1450 range, with a slight intraday downside bias but no clear momentum for a sustained decline. The pair traded narrowly between 1.1424 and 1.1452 last week, below earlier expectations of a broader 1.1420–1.1465 range.
Over a 1-3 week horizon, the upside bias remains intact as long as 1.1405 holds, though a move toward 1.1520 is not yet confirmed. A break below 1.1390–1.1410 would shift focus to 1.1210, signaling a potential return to range trading.
No immediate market reaction was noted, with the pair continuing to reflect cautious positioning ahead of further directional cues.